SOLUTN (0093)Solution Group targets to commence vaccine F&F facility by 2Q 2021
KUALA LUMPUR (Nov 18): Solution Group Bhd is targeting to commence operation of a vaccine fill and finish (F&F) facility by the second quarter of 2021 (Q2 2021) or within a month of the facility’s successful establishment.
In a filing with Bursa Malaysia today, Solution Group said the setting up of the F&F facility is expected to be completed within four to six months from the commencement of work.
“As at the date of this announcement, the company is awaiting approval for the facility’s design plan from the National Pharmaceutical Regulatory Agency (NPRA) and has yet to commence work for the said facility,” it said.
The company had on Oct 13, 2020 submitted the facility’s design plan to the NPRA for approval.
The F&F facility will be adjacent to the group’s existing head office, located in Technology Park Malaysia, Bukit Jalil. The establishment of the said facility will not entail any change in the permanent structure of the existing head office building, thus a revised building plan is not required to be submitted to the relevant authorities for approval.
The total estimated cost required to set up the F&F facility is about RM20 million, of which RM18.22 million is to be funded via proceeds to be raised from a proposed private placement whilst the remaining RM1.78 million will be funded via the company's internally-generated funds.
The facility is also designed to accommodate the F&F process of various types of vaccines.
“In the unlikely event that the vaccine fails to be registered for eventual commercialisation, Solution Group would be able to collaborate with China-based CanSino Biologics or other pharmaceutical companies on the F&F process of other types of vaccines, such as vaccine for meningococcal and pneumococcal,” it added.